Sydney's median asking price tops $1 million. Hilarity ensues!

From SQM Research comes news today that Sydney’s median asking price for free standing houses (includes terraces, but excludes townhouses) has surpassed the one million dollar mark for the first time, clocking in at $1,005,800:

Managing Director of SQM Research, Louis Christopher argues that “right now it would be impossible to purchase a free standing house in Sydney’s inner ring for under a million dollars, and will become increasingly difficult to purchase a free standing house in Sydney’s middle ring for under a million dollars”.

What could possibly go wrong?

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.

Sydney’s median asking price tops $1 million. Hilarity ensues!